What does climate change mean for business? On this page you can access a range of articles, research and guidance on topics including reporting on climate, climate risk in financial services and incorporating climate change into corporate decision making.
"Risk Thinking" in an unstable world
Businesses are being asked to measure their financial risk of climate-related change. But no one seems to know how.
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The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact email@example.com.
Six Capitals: capitalism, climate change and the accounting revolution that can save the planet
Six Capitals charts the rise of four movements: multi-capital accounting, for society, nature and profit; the push for a new type of corporation legally bound to benefit nature and society while making a profit; ecosystem accounting for nations; and legal rights for nature.
Sustainable investing: the art of long-term performance
This book charts how sustainable investing has involved, what impact it has today, and what prospects are emerging for the years ahead.
How do you measure the future? This is not a trick question.
The newly developed Bloomberg Climate Transition Score aims to compare companies on their climate change strategies. The score assesses what companies are doing to reduce carbon emissions, how far they have to go to meet their own targets, and how exposed to climate transition they'll be in the future. The score has initially been used to compare 39 oil and gas companies, giving a like-for-like comparison across each company's current efforts to decarbonize.
UK agrees to help North Sea oil industry with low carbon shifts
The UK government has announced an agreement with the country's oil and gas industry to help safeguard jobs as the country strives to achieve net-zero greenhouse gas emissions. The North Sea transition deal sets out a path to attract investment into renewable energy, carbon-capture and storage and hydrogen.
Europe's biggest banks face new green asset ratio disclosure
Europe's largest banks face new rules to disclose how much their business contributes to climate change. The European Banking Authority has proposed a "Green Asset Ratio" metric to show if a firm is shifting away from financing fossil fuels and towards renewable energy.
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Organisation supporting businesses and the public sector to cut carbon emissions, save energy and commercialise low carbon technologies. The website gives information on climate change legislation, emerging technologies and guides.
Climate Disclosure Standards Board (CDSB)
International consortium of business and environmental NGOs. Offers companies a framework for reporting environmental information and natural capital in mainstream reports such as the annual report, 10-K filing or integrated report.
The Intergovernmental Panel on Climate Change (IPCC)
United Nations body responsible for assessing the science related to climate change. The IPCC provides regular assessments of the scientific basis of climate change, its impacts and future risks, and options for adaptation and mitigation.
Task Force for Climate-related Financial Disclosures (TCFD)
The Financial Stability Board established the TCFD to develop recommendations for more effective climate-related disclosures. The Task Force has 32 international members, including providers
of capital, insurers, large non-financial companies, accounting and consulting firms, and credit rating agencies.
Reports, surveys and guidance
Accounting for climate
Guidance issued by the Climate Disclosure Standards Board in December 2020, to support preparers in integrating climate-related matters into financial statements.
Aligning your pension scheme with the Taskforce on Climate-Related Financial Disclosures recommendations
A Department for Work and Pensions guide to help trustees evaluate how climate-related risks and opportunities may affect their strategies. Published in January 2021.
Climate resilience perspectives
Latest insights into climate change and sustainability, including the implications for boards, from professional services firm Marsh & McLennan.
EY Global Climate Risk Barometer
A snapshot of climate risk reporting disclosures from over 500 companies across sectors in 18 countries during the 2017-18 reporting period. The report provides an overview of the current state of global climate risk reporting and suggests areas of improvement.
FRC climate thematic - Reporting
A report forming part of the Financial Reporting Council's 2020 thematic review of climate-related considerations. It addresses the question, 'how are companies developing their reporting on climate-related challenges?'.
How to anticipate a Green Swan event
This Carbon Trust October 2020 report looks at climate transition risk as it relates to Chinese financial institutions and includes an in-depth review of methodologies used to understand climate risk in portfolios.
Interim report of the UK's Joint Government Regulator TCFD Taskforce
November 2020 report – and accompanying roadmap – outlining the UK’s approach to implementing the recommendations of the Taskforce on Climate-related Financial Disclosures. The Government intends to introduce fully mandatory climate-related financial disclosure requirements across the UK economy.
TCFD Knowledge hub
Resources from the Task Force for Climate-related Financial Disclosures (TCFD), including industry reports, case studies and online courses.
Articles and books in the Library collection
Selected articles and books
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Filling the gaps
(Governance and compliance: the ICSA Magazine, December 2019/January 2020)
The challenge of climate change has gained a lot of prominence over the past few years, and it is clear that investors and companies are increasingly seen as part of the solution. Climate change requires companies to look to the future, which can be difficult when there is so much uncertainty. In this context, it can be difficult to work out what to report.
Climate change: time to improve your disclosure?
(FS Focus, May 2018)
This article discusses "the who, what and where of new recommendations for climate-related financial disclosures".
Corporate carbon and climate accounting
Discusses management accounting approaches for analysing business benefits and costs of climate change.
Covers future directions on carbon accounting and performance measurement and reporting. Also looks at links between climate accounting and business processes, product and service development, supply chain innovation, economic successes and stakeholder relations.
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